Picture courtesy of Bangkok Post
The Thai Cabinet has sanctioned the allocation of 7.12 billion baht (US$218 million) from the central reserve budget to support the electric vehicle (EV) subsidy program.
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The Thai Cabinet has sanctioned the allocation of 7.12 billion baht (US$218 million) from the central reserve budget to support the electric vehicle (EV) subsidy program. This decision was announced following the weekly Cabinet meeting yesterday, September 24.
Jirayu Huangsab, an advisor to the prime minister, confirmed that the allocated budget will subsidise buyers of EVs and motorcycles who have already purchased their vehicles but have not yet applied for the government subsidy under the EV promotion measures.
Since the inception of the EV promotion measures, 55,000 electric vehicles have received subsidies amounting to 6.87 billion baht (US$210 million). There is still a budget of over 5 billion baht (US$153 million) pending disbursement.
Under the initial phase of the EV 3.0 promotion, the Excise Department provided subsidies of up to 150,000…